This chemical is widely used in the field of electrochemistry and photochemistry due to its excellent redox properties and light absorption capabilities. It serves as a key component in dye-sensitized solar cells, where it acts as a photosensitizer to enhance light harvesting and energy conversion efficiency. Additionally, it is employed in organic light-emitting diodes (OLEDs) to improve emission performance and stability. In research, it is utilized as a luminescent probe for studying electron transfer processes and as a catalyst in photoredox reactions for organic synthesis. Its ability to generate reactive species under light irradiation makes it valuable in photocatalytic applications, including environmental remediation and chemical transformations.